Jacob may stick around, after all
In May, we reported that Jacob was going out of business, but now it looks like the Canadian chain is getting a brief reprieve. According to the Financial Post, the Quebec Superior Court has agreed to give the company one extra month of creditor protection, meaning it now has until August 22 to come up with a brilliant comeback plan. (Keep in mind that Jacob has been under creditor protection since 2010, so it’s somewhat unlikely that the additional month will be its saving grace.) According to a company spokesperson, the bonus time will be used to complete a restructuring plan and secure new financing, in the hopes of keeping at least a few stores open. If Jacob doesn’t come up with something amazing by this time next month, it’ll be curtains for real.